Terra Uranium Limited confirmed the approval of ground exploration for the next 3 years on their 100% owned Athabasca Exploration projects from First Nations and the Saskatchewan Government. Approval of Exploration Permits on the HawkRock, Pasfield and Parker Projects by the Saskatchewan Government for 3 years commencing 2023 was received on 18 December, 2022. The permits cover new trail and creek crossing construction, base camp construction, grassroots exploration, ground geophysics, and reverse circulation (RC) and diamond drilling subject on on- going consultation with all stakeholders and compliance with environmental and social requirements.

The Company holds a 100% interest in 20 Claims covering a total of 917 sq km forming the HawkRock Project, the Parker Lake Project and the Pasfield Lake Project (together, the Projects), located in the Cable Bay Shear Zone (CBSZ) on the eastern side of the Athabasca Basin, north- eastern Saskatchewan, Canada. The Projects are approximately 80 km to the west of multiple operating large uranium mills, mines and known deposits. The CBSZ is a major structural zone with known uranium mineralisation but has seen limited exploration as the basin sediment cover is thicker than for known deposits immediately to east.

Methods used to explore include airborne and ground geophysics, including airborne electromagnetics (VTEM, ZTEM), the recently demonstrated ambient noise tomography (ANT) that can penetrate to depth, and outcrop and reverse circulation drilling (RC) for geochemical profiling to provide the best targets before undertaking costly cored diamond drilling right into the target zones at depth. A major milestone for Terra Uranium has been reached with the granting of Exploration Permits for the next 3 years over all 100% owned Athabasca Basin projects. In the 3 months since listing on September 8th, T92 have completed airborne geophysics, geochemistry, a highly successful trial of ANT passive seismic to map the basement, data analysis and permitting for ground operations.

Following completion of airborne geophysics, 2023 exploration planning has been underway, with the planned works including a very active winter campaign as well as a summer diamond drilling program. Terra Uranium is pleased to advise that will be attending the PDAC conference in Toronto and will be providing an opportunity for investors to attend a briefing and further update on 6 March, 2023.